CNPC: China’s Oil Demand Could Peak in 2025 ...Middle East

Oil demand in China, the world’s top crude importer, could peak as early as next year as the penetration of electric vehicles and LNG trucks is accelerating, state-owned China National Petroleum Corporation (CNPC) said on Tuesday. At this time last year, CNPC expected a peak in oil demand coming to China by 2030. Now, after a year of EVs and LNG-fueled trucks displacing some gasoline and diesel demand, respectively, the peak in China’s oil demand may occur five years earlier, in 2025, according to a report by CNPC economists carried…

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